Friday 29 Mar 2024
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KUALA LUMPUR (Dec 17): The FBM KLCI is seen starting the week on a weaker footing with support at 1,660 points, in line with the tumble at most global markets last Friday on concerns of worldwide economic growth going forward.

Investors’ attention will be focused on the US Fed Reserve meeting in the middle of this week.

A gauge of global stocks tumbled on Friday after weak economic data from China and Europe intensified global growth worries as investors weighed the broader impact of the trade dispute between the United States and China, according to Reuters.

Euro zone business ended the year on a weak note, expanding at the slowest pace in over four years as new order growth all but dried up, hurt by trade tensions and violent protests in France, a survey showed, it said.

The Dow Jones Industrial Average fell 496.87 points, or 2.02%, to 24,100.51, the S&P 500 lost 50.59 points, or 1.91%, to 2,599.95 and the Nasdaq Composite dropped 159.67 points, or 2.26%, to 6,910.67, said Reuters.

Based on corporate announcements and news flows last Friday, stocks in focus today may include: Chemidal Company of Malaysia Bhd, Mynews Holdings Bhd, Berjaya Sports Toto Bhd, Sanichi Technology Bhd, Gamuda Bhd, D'nonce Technology Bhd, Sime Darby Plantation Bhd, Tan Chong Motor Holdings Bhd, MCT Bhd, YFG Bhd, Nextgreen Global Bhd, V.S. Industry Bhd, Tenaga Nasional Bhd, Petronas Chemicals Group Bhd and Sapura Energy Bhd.

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